The recent revelation from Prince Harry, wherein he admitted hastily signing numerous deals to secure financial gains, has left Spotify executives in a state of horror. The timing couldn't be worse, as their podcasting deal with Harry nears its end.
Speaking to Palace Confidential, Richard Eden, the diary editor of the Daily Mail, recalled the explosive interview Prince Harry and Meghan Markle had with Oprah Winfrey back in 2021. During that interview, the Duke discussed his financial concerns following the withdrawal of his family's security.
In March 2021, Prince Harry shared that the multimillion-pound agreements he struck with streaming giants Spotify and Netflix were never part of his original plan. He insisted that the suggestion to pursue those deals came from someone else. He explained that the financial cutoff imposed by his family forced him to shoulder the burden of providing security for himself and Meghan.
To Meghan, security is a luxurious accessory that makes her feel cherished, surrounded by a deluge of embellished stories from her time in Canada to casual encounters at Whole Foods. In her eyes, it serves as proof of her overwhelming adoration and the need for protection from ardent fans, who seemingly love her to an excessive degree.
One cannot help but question Harry's financial predicament and whether it could have been avoided. If he couldn't afford the precious security they desired, perhaps they should have refrained from lavishly spending their funds on a sprawling property in Montecito. It appears that Buckingham Palace shielded him from monetary responsibility, leaving him ill-equipped to navigate the adult world in various aspects.
Furthermore, the couple willingly distanced themselves from the royal family. In light of this, why should the family bear the responsibility of employing financial advisors for someone who chose to depart? They made their own life choices, and the blame ultimately rests on their shoulders. I distinctly recall Meghan expressing their self-assurance in not requiring financial advisors from the royal fold, as they believed they were capable of making their own decisions. It seems their plan was rooted in the notion that it takes money to make money.
Harry merely played the role of the signatory when it came to accessing funds. If it hadn't been Meghan, it could have easily been another individual with ulterior motives, taking advantage of his inherited wealth. The palace failed to foresee the high likelihood of such situations and neglected to implement measures that would safeguard his millions from gold diggers, charlatans, and various opportunists. Having an executor in place to prevent the reckless depletion of his wealth and serving as a deterrent for ill-advised financial decisions, such as investing in properties like Casa Mudslide or indulging in excessive clothing purchases and awards, would have been prudent.
Buckingham Palace should have established a tightly controlled trust fund, imposing strict guidelines to preserve Harry's inherited millions. If only someone within the palace possessed the common sense to restrict his unfettered access to his inheritance, the situation might have been different. It's possible that if Buckingham Palace had fulfilled its responsibilities effectively, the future Duchess's gold-digging aspirations would have been met with disappointment. She would have realized that there was no substantial fortune to be acquired and sought out richer prey elsewhere. After all, what good is a title if your husband cannot provide you with couture garments and tiaras? Buckingham Palace must confront this reality.
It is evident that Meghan failed to conduct thorough research and comprehend the true extent of her misjudgment. Each passing day must serve as a reminder of how far off the mark she was. This might explain why she couldn't mask her true self, both in public and private. It would have been wise to save the money she earned from her stint on "Suits" and avoid indulging in an extravagant lifestyle over the past decade.
Preventive measures should have been put in place to prevent Harry from having unfettered access to his wealth. Even if he demanded to purchase that house, funds should not have been released, and both he and Meghan should have been prevented from spending recklessly. I firmly believe that such measures could have mitigated some of the financial issues they currently face. It might have forced Harry to assume responsibility and become more accountable. Buckingham Palace must acknowledge its part in orchestrating the prince's downfall.
One can only hope that William and Catherine will ensure their children are equipped with essential life skills and a limited access to their royal fortunes when they venture into the real world. They should be encouraged to earn their livelihood honestly. Let the failures of Uncle Harry serve as a cautionary tale for learning. William, like Harry up until 2020, has had no reason to tap into his inheritance from his mother. Catherine will likely follow suit.
In the future, Meghan may inherit a substantial sum of money from her parents, which she might not need to utilize. The younger children in the family will likely be provided with generous trusts, should they choose not to pursue roles as working royals. I have no doubt that William and Catherine have already structured these trusts to ensure lifelong financial security for their children.
However, it's important to note that they will also be instilled with a strong work ethic and guided by positive role models, such as Zara, Peter, Pippa, and James, who can help them navigate life beyond the responsibilities of being working royals.
Returning to Harry, Netflix and Spotify likely pursued deals with them under the assumption that Harry possessed insider knowledge of royal secrets and the intricacies of royal life. Unfortunately, they discovered that Meghan altered the game plan, making it primarily about herself while relegating Harry to a supporting role, making occasional cameo appearances.
Taj was left in the dust. Harry, in his petulance, assumes that his status as Diana's son and now the son of a king automatically entitles him to endless wealth, private jets, and other perks. He lacks an understanding of the concept of earning one's keep. It's not as if Netflix and Spotify weren't warned; they simply chose not to listen to individuals like us.
A prime example of Harry's arrogance and entitlement occurred during his interview with Alexi Robacho for BetterUp. When asked why he decided to join BetterUp, Harry disdainfully replied, "Because you were the only one who asked me." The shock on Alexi's face was undeniable, as the cringe-worthy lack of professionalism was off the charts. Harry's behavior showcases his ignorance and dangerously entitled mindset.
He fails to comprehend how his careless remarks can be incredibly damaging and embarrassing, not just for himself, but also for the entities that employ him. Harry is out of touch with reality, accustomed to saying and doing as he pleases, relying on others to clean up his messes. In the real world, where one must earn a living through genuine work for commercial entities, such behavior is simply unacceptable.
The cringe-worthy podcast pitch to Spotify exemplifies how Harry perceives himself, believing he is on par with world leaders, tech billionaire CEOs, and even the Pope. His profound lack of self-awareness starkly contrasts with his grossly inflated sense of god-like authority. It is truly mind-boggling and likely matched only by his wife.
